C-Ray Therapeutics (Chengdu) Co., Ltd., an innovative enterprise in the field of radioactive medicines, has successfully completed over $100 million in A+ round financing. This funding round was jointly led by Shenzhen Capital Group’s New Materials Fund and Tailong Investment, with participation from notable investors including Hillhouse Ventures, SiBiono GeneTech, Guanghua Wutong, and several well-known institutional investment firms. Kaicheng Capital served as the exclusive financial advisor for this transaction.
Funding Goals: Enhancing Core Technologies and Accelerating Clinical Development
According to C-Ray’s press release, the primary objective of this financing is to further enhance the company’s core technology platforms, particularly in targeted precursor discovery and upgrading high-throughput screening capabilities for innovative RDC drugs. The funding will accelerate multiple international R&D pipelines, especially focusing on the clinical development of alpha-emitting RDC drugs, aiming to provide more effective treatment options for patients worldwide.
The Promise of Radioactive Drugs in Precision Medicine
Radioactive drugs are a unique class of medications that label radioactive isotopes to specific molecules, utilizing the different energy levels of the emitted rays to visualize or target tumors, thus integrating diagnosis and treatment. With the rising demand for precision diagnostics and therapies in modern medicine, radioactive drugs are poised to deliver promising applications across various fields, including oncology, cardiovascular diseases, and neurological disorders.
C-Ray’s Journey: Milestones in Radioactive Drug Innovation
Founded in 2021 and headquartered in Chengdu Medical City, C-Ray Therapeutics was incubated by the internationally renowned investment firm Tonghe Yucheng. Since its establishment, the company has deeply engaged in the radioactive medicine sector, achieving several milestone results within just three years. This includes the establishment of a nearly 30,000 square meter radioactive drug R&D and production facility, as well as obtaining the first-grade “Radiation Safety License” for innovative radioactive drug companies.
In September of this year, the 177Lu-TR0471 injection submitted by C-Ray Therapeutics received clinical approval in China, intended for the treatment of adult patients with prostate-specific membrane antigen (PSMA) positive metastatic castration-resistant prostate cancer (mCRPC), who have previously received androgen receptor inhibitors but not taxane chemotherapy.-Fineline Info & Tech
Leave a Reply